Egypt's GDP for 2001 hits LE 259.9BN

The gross domestic product (GDP) for the year 2001 hits L.E. 259.9 billion with a growth rate of 4.9 per cent, according to the annual report of the Egyptian Businessmen Association (EBA).

The private sector's contribution to the GDP in 2001 rose to hit 76.4 per cent verses 73.8 per cent in 2000, while the public sector retreated to 23.6 per cent in 2001 verses 26.2 per cent in 2000, said EBA, a major private sector institution in Egypt.

The private sector achieved a growth rate of 8.5 per cent, while the public sector registered a decrease of 5.3 per cent, added the report.

The report noted that the industry sector came in the lead with a 20.2 per cent contribution to the GDP and a growth rate of 7.8 per cent, followed by the trade sector with a contribution of 16.5 per cent to the GDP and a growth rate of 4.8 per cent, and the agriculture sector with a contribution of 16.5 per cent and growth rate of 3.5 per cent.